In light of recent global equity market activity, the EUR/JPY currency pair is deviating from its usual trends, influenced by a sell-off of the dollar and repatriation flows from Europe and Japan. Analysts from ING, Francesco Pesole and Chris Turner, indicate that the Japanese yen may be undervalued while the Bank of Japan leans toward a hawkish stance. The pair may carry a downside bias in the near term, warranting close observation.